Global Pain Management Devices Industry
The growth of the market is attribute to the growing prevalence of the chronic medical conditions across the globe and increasing geriatric population worldwide. Furthermore, development of the technologically advanced pain management devices, supportive reimbursement policies and stringent government regulations to limit opioid pain killer prescriptions are also some of the major factors that are estimated to have significant impact on the growth of the market.
Growing geriatric population and high prevalence of related issue is a major growth factor for the market. According to WHO, in the year 2015, the elderly (65+) population across the globe was estimated to be around 900 million, up from 524 million in the year 2010. It is further estimated to reach 1.5 billion by the year 2050. Aging is major factor in pain related issues specially in cases of common occurring age-related ailments. Arthritis, osteoporosis, hypertension, diabetes and obesity are some of the most common ailments in elderly.
However, there are certain factors that are hampering the market growth. Presence of the alternative therapies and medications for pain management, high cost of pain management devices and lack of awareness are the major constraints in the growth of the market. Apart from these restraints, increasing prevalence of the neuropathic pain and strong product pipeline for pain management devices are estimated to develop myriad growth opportunities for the growth of the market.
The Global Pain Management Devices Market is analyzed on the basis of the geographical regions that are contributing significantly towards the growth of the market. North America is estimated to account for major share in the global market owing to the well-developed healthcare infrastructure and supportive government policies such as Precision Medicines and Affordable Care Act. Furthermore, presence of favorable reimbursement policies also estimated to drive the growth of the market in the region. On the other hand, Asia Pacific is estimated to be the fastest growing region during the forecast period owing to the rapidly growing healthcare infrastructure in the emerging economies such as India and China and increasing disposable incomes are estimated to be the major factors that are driving the growth of the market.
Some of the prominent vendors of the pain management devices market are B Braun Melsungen AG, Baxter International Inc., Becton Dickinson and Company, Bio Medical Research Ltd., Boston Scientific Corporation, Codman and Shurtleff Inc., DJO Global LLC, Halyard Health Inc., Hospira Inc., Kimberly-Clark Corporation, Medtronic PLC, Neurotech NA Inc., Nevro Corporation, Pain Management Technologies Inc., Smiths Medical, St. Jude Medical Inc. and Stryker Corporation.
Global Pain Management Devices Market by Applications
Global Pain Management Devices Market by Types
The Report covers:
Comprehensive research methodology of Global Pain Management Devices Market.
This report also includes detailed and extensive market overview with Analyst insights & key market trends.
Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the Global Pain Management Devices Market.
Insights about market determinants which are stimulating the Global Pain Management Devices Market.
Detailed and extensive market segments with regional distribution of forecasted revenues.
Extensive profiles and recent developments of market players.
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